PRESS RELEASE: First meeting of Green Climate Fund Board postponed
read the release on our website:
(Bonn, 17 May 2012) – The first meeting of the Green Climate Fund (GCF)
Board has been postponed, pending finalisation of the process for
nominations from countries to the membership of the Board. The Board had
been expected to meet on May 31, shortly after this year’s first meeting of
governments under the United Nations Framework Convention on Climate Change
(UNFCCC), which is taking place now in Bonn, Germany.
“The next window to meet will be the last week in June or first week in
July, in Geneva,” said Christiana Figueres, Executive Secretary of the
UNFCCC. “There is great enthusiasm from countries to be represented on the
Board. While I would have liked to see the Board get down to work
immediately, a short postponement to reach full agreement on its membership
means it can launch smoothly and push ahead with the tasks before it,” she
said. “To ensure that happens, I ask governments to submit their pending
nominations without further delay so the pressing work of the Board can
begin,” she added.
The GCF was launched at the UN Climate Change Conference in Durban last
year, through the approval of its governing instrument and it has its own
interim secretariat. The GCF is being designed as a major global channel
for long-term financial support to help developing countries in the urgent
task of building their own sustainable and climate-resilient futures.
One of the immediate tasks of the Board is to consider the six offers from
countries to host the Fund, including Germany, Mexico, Namibia, Poland, the
Republic of Korea and Switzerland.
The GCF has been designated an operating entity of the financial mechanism
of the Convention and will function under the guidance of, and be
accountable to the Conference of the Parties (COP), meaning all countries
under the UNFCCC. The Fund will have a Board of 24 members. Additionally,
two private sector representatives, one each from developing and developed
countries, and similarly two civil society representatives will participate
in Board meetings as active observers.
About the UNFCCC
With 195 Parties, the United Nations Framework Convention on Climate Change
(UNFCCC) has near universal membership and is the parent treaty of the 1997
Kyoto Protocol. The Kyoto Protocol has been ratified by 193 of the UNFCCC
Parties. Under the Protocol, 37 States, consisting of highly industrialized
countries and countries undergoing the process of transition to a market
economy, have legally binding emission limitation and reduction
commitments. The ultimate objective of both treaties is to stabilize
greenhouse gas concentrations in the atmosphere at a level that will
prevent dangerous human interference with the climate system.